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Subsequent Event | 6 Months Ended
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Jun. 30, 2019
Subsequent Events [Abstract] |
Subsequent Event |
1 5. | Subsequent Event
On July 3, 2019, we announced our intention to acquire Telford Homes Plc (Telford) in our Real Estate Investments segment. Telford develops multifamily residential properties in London. Under the terms of the planned transaction, Telford shareholders will receive $4.41 (£3.50) per share in cash, valuing Telford at $336.9 million (£267.4 million). The transaction was subject to approval by a majority of Telford shareholders voting on the transaction and who represented at least 75% in value of the votes cast. On August 6, 2019, the transaction was approved by Telford shareholders with 93.51% of shareholders voting “for” the transaction. We plan to fund the acquisition through a combination of cash on hand and borrowings under our revolving credit facility. We anticipate closing this transaction later this year.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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